New Property in Miri 2026

New property in Miri in 2026 varies by type and location. Condominium and serviced apartment units typically range from RM300,000 for a 1-bedroom to RM580,000 for a 2-bedroom. New landed terrace houses start from approximately RM380,000 and can reach RM600,000 for larger 2-storey units in Pujut and Permyjaya. Marina Parkcity waterfront condominiums command a 15–25% premium over comparable inland units, reflecting the scarcity of waterfront addresses and the master-planned quality of the development.

Miri's property demand is anchored by four distinct pillars. First, the oil and gas sector — Shell and Petronas have operated in Miri since 1910, and international oilfield services companies maintain large permanent workforces that generate steady demand for quality housing, particularly furnished units and gated residences catering to expatriate professionals. Second, government services — Miri is the administrative capital of Miri Division, home to federal and state agencies and a sizeable civil servant population. Third, eco-tourism and the Borneo gateway effect — Miri serves as the jumping-off point for Mulu Caves (UNESCO World Heritage), Niah Caves, and northern Sarawak national parks, driving hospitality investment and short-stay rental demand. Fourth, Curtin University Malaysia, a full international campus that supports student and academic housing demand throughout the city.

Marina Parkcity is Miri's landmark master-planned waterfront development, built on reclaimed land along the South China Sea coastline. Developed under the IGB group, it is the most prestigious address in Miri, integrating premium residential condominiums, a marina, international hotels, retail and dining. The development raised the ceiling of Miri's property market and introduced a product standard previously unavailable in the city. Marina Parkcity condominiums are the benchmark for premium pricing in Miri, and units there have historically attracted both owner-occupiers from the O&G sector and investors seeking the best-quality stock in northern Sarawak.

Yes. Miri has one of the largest established expatriate communities in East Malaysia, driven by Shell, Petronas, and international oilfield services firms that have maintained Miri operations for decades. These companies typically provide housing allowances, creating sustained demand for quality furnished condominiums and gated landed properties, particularly in Pujut and the Marina Parkcity area. Corporate lease tenants from the O&G sector represent the most reliable segment of Miri's rental market — low vacancy risk, longer tenancy terms, and willingness to pay premium rates for quality. For landlord-investors, this corporate tenant base is a meaningful differentiator versus other Malaysian cities.

Foreigners can purchase property in Miri subject to Sarawak's land laws, which differ from Peninsular Malaysia regulations. Standard strata-titled condominiums and residential properties are generally available to foreign buyers, but Sarawak land is governed by the Sarawak Land Code — certain categories including Native Customary Rights (NCR) land are restricted. As a general guideline, foreign buyers face a minimum purchase threshold of RM1,000,000 for certain property categories under national foreign ownership rules. Given the complexity of Sarawak land classifications, it is strongly recommended to engage a Sarawak-licensed lawyer familiar with the local land code before committing to any purchase.